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Government tells PSUs to clear all dues by October 15

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NEW DELHI: Finance Minister Nirmala Sitharaman in a press briefing on Saturday mandated the central public sector enterprises (CPSEs) to pay outstanding dues to dealers and vendors by October 15.Sitharaman said that beyond that no excuses will be heard. FM added that a portal will be up by October 15 for service providers, vendors and contractors to track bills and payments so that liquidity crunch is mitigated. The Finance Minister met with 32 CPSEs in the capital to discuss outstanding payments issue and capex situation.Finance Secretary Rajiv Kumar said 34 central PSUs have already spent Rs 48,077 crore till August and have detailed spending of another Rs 50,159 crore till December 2019.

Another Rs 54,700 crore would be spent in the January-March quarter.Expenditure Secretary Girish Chandra Murmu said capex of all the 242-odd PSUs will be over Rs 4 lakh crore.The government has been working to increase the capex to boost the sluggish economy that has hit a six-year low.

On the government’s expenditure plan, Murmu on Friday said the Centre has spent Rs 2.18 lakh crore for capital expenditure so far in the financial year 2020.




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